BEST, The Netherlands and TORONTO, July 21, 2015 (GLOBE NEWSWIRE) -- Royal Philips (NYSE:PHG) (AEX:PHIA) and Profound Medical Corp. (TSXV:PRN), a Toronto-based medical device company, today announced that they have signed a joint development agreement to support Profound Medical's proprietary TULSA (Transurethral Ultrasound Ablation) technology designed to treat patients with prostate cancer on Philips' Ingenia and Achieva 3T MRI systems.
Profound's TULSA technology is emerging as a new minimally invasive, whole gland ablation of the prostate. This single session procedure has the potential for outcomes comparable to the best of current treatment options, but with lower rates of side effects and higher quality of life for patients.
"Philips has stepped forward and enthusiastically shares our vision for the technology. With their support, TULSA-PRO will soon be available to clinicians and patients for primary treatment of localized prostate cancer," says Steve Plymale, CEO, Profound Medical Corp. "This new relationship will provide us with access to a large installed base of MRI systems and customers and we look forward to developing this mutually rewarding relationship further."
As a leader in image-guided therapies Philips is expanding its efforts in the fast growing interventional oncology domain. MRI is emerging in oncology applications, because of its excellent real-time 3D visualization of soft tissue and Philips has a suite of industry-leading solutions for MRI guided procedures. Philips has deep expertise and experience in providing clinical solutions for prostate MR imaging.
"With 3T MRI emerging as a technology standard for multi-parametric MRI diagnostic imaging of the prostate, our collaboration with Profound Medical will enable us to offer our customers access to a novel MR guided ultrasound ablation therapy that's critical to prostate care research," said Christopher Busch, General Manager MR Therapy, Philips Medical Systems. "We look forward to teaming with Profound Medical to refine the integration of our technologies and drive clinical research and reimbursement efforts with the ultimate objective to improve clinical performance and enhance the patient experience."
Profound Medical will soon release 12 month data from its 30 patient safety and feasibility study with the goal of obtaining a CE mark and commercialization of TULSA-PRO in Europe and Canada in 2016.
About Profound Medical Corp.
Profound Medical is a Canadian medical device company that has developed a unique and minimally invasive treatment to ablate the prostate gland. Profound's novel technology combines MRI technology with ultrasound thermal energy that is delivered via a transurethral approach. This method of prostate cancer therapy provides highly accurate and precise treatment within the prostate in a short time span, allowing for fast patient recovery. The potential of this technology is currently being demonstrated in clinical trials. For more information, visit profoundmedical.com
About Royal Philips
Royal Philips (NYSE:PHG) (AEX:PHIA) is a diversified health and well-being company, focused on improving people's lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2014 sales of EUR 21.4 billion and employs approximately 108,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at www.philips.com/newscenter.
CONTACT: For Profound Medical investor or media inquiries, please contact: Shameze Rampertab CFO Profound Medical Corp., T: 647.476.1350, Ext. 424 email@example.com Or Rebecca von Goetz Senior Marketing & Communications Specialist Profound Medical Corp., T: 647.476.1350, Ext. 426 C: 416.917.8650 firstname.lastname@example.org For Philips media inquiries, please contact: Steve Klink Press Officer Royal Philips T: 31610888824 email@example.com
Source:Profound Medical Corp.;Royal Philips